
208. What You Need To Know about Insurance COIs
Retailers are raising the bar when it comes to liability coverage, and the process of securing the right insurance is becoming more complicated than ever. Not only are brands facing
By Trax Dynamic Merchandising
The food and beverage industry is filled with acronyms and terms that you need to know. In this piece, we breakdown 60 merchandising terms every emerging brand founder should know. Thanks to our friends at Trax Dynamic Merchandising for putting this together.
Central aisle around a store (usually grocery, or big box) with lots of open space. Retailers prompt shoppers to make impulse purchases by positioning displays along the shoppers path
An anchor store is one of the largest store in a shopping area. Typically a well-known department store or retail chain.
Large store (often square or rectangular building), typically a major retail chain. Examples: Target, Walmart, Home Depot, Meijer
Integrating brick-and-mortar stores with their e-commerce site. Usually includes web-to-store services such as in-store pick-ups and returns without any friction for the shopper.
Everyday Low Pricing. A pricing strategy that promises consumers a consistently low price without the need for comparison shopping or waiting for sales. Popularized by Walmart
A decoy shopper sent to retail stores to evaluate product merchandising, customer experience, or store service levels
Point Of Sale. Location of the purchase and payment. Usually a cash register, can also be a virtual sales point such as mobile device or laptop. This is where sales taxes are calculated and incurred.
All elements from interior to exterior promotions and offers, product placements, in-store advertisement, strategic placement in store.
Average Selling Point: Companies that are entering a new market can use ASP to create their strategy on how they want to position themselves.
Cost of inventory and storage: It can help you determine if production should be increased or decreased, in order to maintain the current or desired balance between income and expenses.
Days of Supply. Amount of product inventory to keep up with customer demand between restockings.
Number of days or weeks a product is on a shelf before sale
Physical warehouses where products are consolidated and stored until delivered to a retail store.
Process of managing the flow of product from supplier or manufacturer to point of sale.
A wooden structure used to support and move goods. Typical pallet sizes are 48″ x 40″, but various distributors may require specific sizes
Standalone signage placed throughout the store to feature a product or announce a promotion.
Stocking related products from different categories together, such as beer and chips.
A plastic or metal strip with hooks (clips) to hang products. Used for small items, and ancillary/complementary products.
Original shipping package used to display product (top and/or sides of carton is removed)
Digital installation that displays video or multimedia content. Usually shows info or advertising. Located in the store, mall, or physical location, including outdoors
The presentation of products, sometimes paid for by manufacturers (focused on one product, brand, or the brand of that company), and sometimes used by retailers to entice customers, and inspire impulse purchase.
Standalone display case with glass or clear plastic on all sides, and product inside the case.
Simplest display type, still offers many opportunities for creativity in presenting product.
Oversized bins, standing on the store floor, often stocked with individually packaged products “dumped” into the bin. Ideal for impulse and seasonal products, usually placed in high-traffic areas
Display located at the end of an aisle. They focus attention on products, as shoppers walk through the store. Front of store endcaps are located facing cash registers, and shoppers notice them when they walk into the store, and when checking out.
Any piece of shelving, furniture or equipment in a fixed in position in the store, used as a display.
A display, often made of cardboard, standing on its own in a store (in aisle, next to wall near cash registers), used to highlight a product or brand. Often used to launch SKU’s, drive trial, or drive volume (via promotions).
A shelving unit that is freestanding fixture, with shelves, pegboard, hanging rods, etc as required to display product.
A standalone display, positioned on the floor in the store’s main aisleway.
Short for Modular. Refers to a 4-foot section of an aisle focused on one category, or a planogram (POG) is considered a MOD.
A secondary display outside the aisle to increase product visibility
Printed or digital displays placed close to the merchandise it is promoting, placed where shoppers make purchase decisions
A display with four sides of merchandise.
Smaller displays designed to hang on the sides of an end-cap display or fixture. Often shipped pre-packed for quick setup.
Inventory in the back room of a store, to replenish inventory on the sales floor.
Product that is expired or obsolete (has spent too much time on shelf).
Out of Stock. When product is sold through on shelf, leaving an empty slot (empty facing). There is sometimes back of store inventory, to replenish shelves and displays.
On-Shelf-Availability. Metric used by manufacturers/brands, to track the availability of product to shoppers.
Goods that are listed as available on-hand in store inventory software, but not actually present. At the store level, phantom inventory is a key reason for outof-stock issues.
Phyisical inventory at the store.
Additional inventory stored above store shelves for quick re-stocking.
Visual merchandising design tactic: placing products with contrasting package colors next to each other to stand out on shelf or on displays.
Moving or removing merchandise to make space on shelves for new and/or promotional products. Cut-ins typically occur between category resets, and allow flexibility and speed to introduce new items.
One position at the front of a shelf. Each SKU has one (or more) facings. Example: Three flavors side-by-side on a shelf are three facings of the brand. Ten chocolate items, one behind the other, are ten items of one facing. Facing also refers to pulling product to the front of the shelf.
Promotional and marketing activities that contribute to selling products to customers in a brick-and-mortar retail store. Includes shopper marketing strategies, display design, and promotions/ discount offers.
Packing out refers to the process of filling the store shelves with replenishment products from the store’s backroom supply.
Planogram. Detailed diagrams (visual plans) that show merchandisers where to place products on shelves
Business process to bring a brand strategy to life in retail stores, within the retailer’s guidelines. It is often outsourced to 3rd party merchandisers, as stores are under-staffed.
Manufacturer’s Suggested Retail Price – Pricepoint recommended by the manufacturer. Retailers will follow or adjust the price-point, based on their own retail and shopping strategy.
Products manufactured or packaged for the retailer’s brand. Only available in that retailer’s stores
Stock-Keeping Unit. Each unique product. Different flavors and sizes/pack sizes are unique SKUs. SKU numbers are usually eight alphanumeric digits for tracking and managing inventory.
Universal Product Code. UPC codes are placed/printed on products by the manufacturer, and apply across all retailers.
Retailers are raising the bar when it comes to liability coverage, and the process of securing the right insurance is becoming more complicated than ever. Not only are brands facing
Retailers are raising the bar when it comes to liability coverage, and the process of securing the right insurance is becoming more complicated than ever. Not only are brands facing
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